MSc Banking and Finance degree

Entry requirements
2:1 +
Full-time
1 year
Part-time
Not available
Start date
September 2020
UK / EU fee
£13,800
International fee
£23,200
Location
Loughborough
Application status
Open

Overview

Our MSc Banking and Finance programme will equip you with the practical skills to understand and model banking and financial markets, using the toolkit of economics.

Banking and financial services are used worldwide every day by businesses and consumers. The performance of banking firms can shape global economies and enable businesses to grow and improve society’s welfare.

Taught by academic experts in economics, banking and finance, you will learn how the actions of governments, firms, households, and financial intermediaries affect national and global financial assets such as bond, equities and foreign exchange markets. In addition, this master’s in banking and finance programme will expose you to the theory and practice of bank credit and lending, as well as financial institution risk management.

MSc Banking and Finance is ideal for those who wish to pursue a career in banking, financial services, international financial management, or central banking and financial regulation.

On successful completion of this programme, you will be able to:

  • understand and explain the functions and operations of institutions, financial markets and systems, with special reference to central banks, commercial banks and other financial intermediaries
  • understand and explain the core theories of financial economics with respect to risk management, asset pricing and investment, and to be able to use these theories to assist them in asset management
  • undertake independent applied research in banking and finance, using basic research tools and quantitative methods appropriate to the conduct of independent research.

Who should study this programme?

Our MSc Banking and Finance programme is ideal for graduates interested in careers in banking, financial services, international financial management, or central banking and financial regulation and equips you with the knowledge and skills to apply the toolkit of economics to model the performance of banking and financial markets and the implications of this for the sector and the wider economy.

Why you should choose us

Why you should study this degree

What makes this programme different?

What you'll study

Our modules are underpinned by the latest research and best practice, having been designed to provide you with up-to-date and relevant knowledge of banking, finance and research methods. Your optional modules will enable you to specialise in the areas of economics, banking and finance that best suit your career ambitions and interests, and you will be able to sharpen your applied research skills by completing a banking and finance in practice project.

The following information is intended as an example only and is based on module information for the 2019/20 year of entry. Modules are reviewed on an annual basis and may be subject to future changes. Updated Programme and Module Specifications are made available ahead of each academic year. Please see Terms and Conditions of Study for more information.

Financial Economics (15 credits)

This module will develop your familiarity with the fundamental concepts of financial economics to prepare you for further study in more advanced topics and modules in finance. You will also learn how to model the behaviour of investors under conditions of uncertainty and how to apply theoretical models in both asset pricing and the evaluation of capital market efficiency.

Topics covered may include:

  • fundamental mathematical techniques in finance:
    • discounting and compounding in discrete and continuous time
    • calculus and constrained optimisation
  • Taylor's series: elementary matrix operations
  • yields and the pricing of bonds and discount securities using present value methods
  • the term structure of interest rates and the interest rate risk of bond portfolios
  • present value models of asset pricing
  • the concept of capital market efficiency and tests of efficiency
  • the expected utility hypothesis, utility functions and investor choice under uncertainty
  • diversification, mathematical optimisation and the mean-variance model
  • single index and multi-index models
  • the capital asset and arbitrage pricing models: their derivation, interpretation and application
  • tests of asset pricing theory and asset pricing anomalies
  • hedging, speculation and arbitrage
  • an introduction to the basic features of options and futures
  • the single-period binomial option pricing model.

The Financial System (15 credits)

This module will provide you with an overview of the financial system, including an appreciation of the economic problems that financial institutions and markets seek to overcome. You develop an understanding of the organisation and operation of the major financial institutions and markets, the impact of technology and regulation on the evolution of the industry and an awareness of how alternative structures of financial systems seek to solve common problems.

Topics studied may include:

  • an overview of the financial system
  • a short history of money and banking
  • banking products and services
  • bonds and bond markets
  • corporate governance and external finance
  • payment systems and the central bank
  • equity markets and equity trading
  • foreign exchange, commodity and derivative trading
  • market infrastructures and international exchance
  • money markets, liquidity and the global financial crisis.

Economic Data Analysis (15 credits)

This module will develop your competencies in the practical techniques economists often use to handle, analyse and interpret economic data. It will therefore provide you with a solid foundation of the econometric techniques and skills that form the basis for the quantitative/econometric modules of this master's programme.

Topics covered may include:

  • an introduction to econometrics
  • statistics:
    • regression analysis
    • statistical inference and hypothesis testing
    • dummy variables
    • different functional forms
    • departures from main assumptions (multicollinearity, heteroskedasticity, specification bias and autocorrelation)
  • practical labs: applied direct analysis of economic data using STATA (or other equivalent software).

Optional modules (choose one)

Economics of Firms and Markets (15 credits)

This module will expose you to the microeconomic theory of producer and consumer decision making and will provide a solid grounding in the economic theory and analytical methods employed in subsequent modules.

Topics covered may include:

  • consumer choice, including utility maximisation
  • theory of the firm, including production functions, and profit and cost minimisation
  • general equilibrium and welfare
  • Pareto efficiency and the two fundamental theorems.

Macroeconomic Policy and Financial Markets (15 credits)

The aim of this module is to provide you with an understanding of the main models used for macroeconomic policy formulation at the graduate level. You will develop an understanding of important areas of macroeconomic policies, be able to undertake analysis of the policies as regards to financial markets and the economy as a whole and be able to explain the operation of monetary and fiscal policy.

Topics covered may include:

  • macroeconomics, finance and measurement: income accounting, flow of funds analysis and the role of money
  • the principle of aggregate demand: savings, investment, net exports and the IS curve
  • financial markets, aggregate demand and monetary policy
  • fiscal policy
  • the foreign exchange market, the balance of payments, exchange rate and international policy formulation and co-ordination.

Applied Financial Econometrics (15 credits)

This module will equip you with the quantitative techniques necessary to conduct empirical work in the area of applied finance and economics, and enable you to apply these using appropriate econometric software.

Topics studied may include:

  • unit roots
  • cointegration
  • general autoregressive heteroscedasticity and its applications in finance
  • limited dependent variable models
  • panel data techniques.

Banking and Financial Markets (15 credits)

This module will provide an in-depth analysis of the causes, implications and regulatory responses to the recent global banking crisis. In particular, you will review and analyse the theoretical basis of financial innovation and its impact on financial institutions and markets, and the role of derivative instruments in the banking crisis. You will also review and analyse price- and credit-derivative instruments, analyse the nature, causes, policy responses and implications of the global financial crisis and consider post-crisis scenarios for bank business models and regulation.

Topics studied may include:

  • financial innovation and instruments
  • securitisation
  • credit derivatives
  • nature of the banking and financial crisis
  • causes of the crisis
  • policy responses and intervention
  • financial regulation.

Research Communication for Economists (10 credits)

This module will develop skills allowing you to enhance your oral presentation and communication skills for both academic research and employment. You will develop spoken and written specialist language to suit the high-level communication requirements and style of project proposals and project reports (for both research and employment) and conduct critical constructive synthesis of specialist literature

Topics studied may include:

  • literature search using library and online literature databases
  • analysis, synthesis and communication of research ideas and findings, using prescribed pedagogic sets of readings
  • writing reviews of prescribed pedagogic sets of readings using appropriate specialist language and structure
  • preparation of short presentations
  • recognition and avoidance of plagiarism and poor scholarship.

Optional modules (choose two)

Risk Management and Derivatives (15 credits)

This module will introduce you to options, futures, swaps and other derivative instruments and their use in asset management. You will develop knowledge of the basic theory of options and futures pricing and gain an understanding of how different financial instruments can be combined into portfolios for the purpose of hedging, speculation and arbitrage. The module will also enable you to identify the fundamental concepts of derivative financial instruments, derive theoretical prices for options forwards and futures and be able to recognise arbitrage opportunities in simple examples and suggest trade strategies to exploit them.

Topics covered may include:

  • the market for options and futures
  • the concept of arbitrage
  • fundamental option price theorems
  • put-call parity
  • derivation of the Binomial and Black-Scholes option pricing models
  • valuation of futures contracts
  • stock index, interest rate and currency futures
  • examples of hedging and speculation using options, futures and swaps
  • portfolio insurance
  • bond portfolio management, duration and convexity.

Corporate Finance (15 credits)

This module will present modern theories of corporate finance and show how these can be applied to understanding the financing and investment decisions of companies, particularly those quoted on the stock exchange. You will develop an understanding of project investment appraisal, the capital structure of a corporation, dividend policy and current issues in corporate finance.

Topics covered may include:

  • corporate investment decisions in the absence of uncertainty
  • investment and uncertainty
  • the theory of capital structure and Modigliani-Miller
  • event studies
  • Tobin's Q and investment
  • taxation and capital structure
  • trade-off and pecking order theories
  • empirical evidence on capital structure
  • dividend policy.

International Money and Finance (15 credits)

This module will explore issues related to the mechanics of currency markets, international finance and economics by using economic principles to examine international monetary arrangements and policy since 1945. You will develop an understanding of the international monetary system and the construction of economic modules, along with skills in modelling macroeconomic variables in international finance.

Topics covered may include:

  • an introduction to exchange rates
  • international parity conditions
  • macroeconomic dimensions of international finance
  • international monetary arrangements
  • determination of exchange rates
  • international capital flows: debt, currency crises and credibility.

Banking and Finance in Practice (20 credits)

This module will see you identifing and assessing complex issues in banking and finance, applying tools of analysis to practical and research issues to prepare you for employment in these sectors.

Topics covered may include:

  • banking data sources
  • statistical methods and techniques to analyse banking data
  • banking performance
  • competition and concentration in banking industry
  • regulation and corporate governance issues in banks and financial intermediaries.

Economic Research Project (30 credits)

This module will allow you to apply and communicate your knowledge of economics via the development of an individual project essay in banking and finance. You will explore an issue of policy relevant to your research theme, exploiting the economic tools and techniques taught in your master's modules and providing robust recommendations for policy makers and other decision makers.

The module is focused on independent study aimed at identifying, proposing, researching and writing up an individual, distinct and in-depth applied economics research project. Your individual topic will be developed in consultation your academic supervisor and will be closely coordinated with your group project in the Banking and Finance in Practice module.

How you'll be assessed

You will be assessed by a combination of group and individual coursework, as well as exams.

How you'll study

  • Seminars
  • Tutorials
  • Field trips
  • Independent study
  • Group work
  • Workshops

Your personal and professional development

Our School of Business and Economics is committed to helping you develop the skills and attributes you need to progress successfully in your chosen career. As part of our ongoing commitment to supporting you with your personal and professional development, all our Business and Economics postgraduate students have the opportunity to attend an impressive range of extra-curricular masterclasses and public lectures – all on campus and free of charge. Our masterclasses and public lectures to offer you the chance to broaden your horizons, with a wide range of business-related topics covered, with speakers from the Bank of England, Shazam, Shell and Dell just to name a few.

Future career prospects

Graduates will be equipped for a career in financial services, international financial management, central banking and financial regulation, or government and economics consultancies.

Graduate destinations

Recent graduate destinations include:

  • Bank of China – China, Senior Manager
  • China Everbright Bank, Client Manager
  • China National Coal Group Corp., Settlement Analyst
  • Government Savings Bank, Banking Officer
  • Guosen Securities, Financial Market Trader
  • Hangseng Bank Co., Relation Manager
  • ICAP, Foreign Exchange Broker
  • KPMG, Audit Associate
  • PriceWaterhouseCoopers, Trainee Accountant
  • Shenzhen Development Bank, Accountant
  • VTB Bank – Armenia, Head of Large Corporate Clients Division
  • Xianda College of Economics and Humanities, Lecturer.

Entry requirements

Our entry requirements are listed using standard UK undergraduate degree classifications i.e. first-class honours, upper second-class honours and lower second-class honours. To learn the equivalent for your country, please choose it from the dropdown below.

Entry requirements for United Kingdom

A 2:1 honours degree (or equivalent international qualification) in economics, finance, business, management, management science or operations research.

Applicants from related disciplines may also be considered provided that your degree includes at least introductory modules in economics and an introduction to quantitative subjects such as calculus and statistics.

Afghanistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Masters 95% 85% 70%

Albania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomë e Nivelit të Pare (First Level (University) Diploma (from 2010) 9.5 8.5 8

Algeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (4 year) / Diplome d'Inginieur d'Etat / Diplôme d'Etudes Supérieures 16 14 12

Argentina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Argentina 8.5 7.5 6.0

Armenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavri Kochum 90% 80% 70%
Magistrosi Kochum 3.9 3.5 3.0

Australia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Honours degree (AQF level 8) First Class, 80% Upper Second, 70%, H2A Lower Second, 60%, 2B
Ordinary degree - AQF Level 7 pass (mark 46 or 50) High Distinction (80% or 85%) Distinction (75% or 80%) Distinction (70% or 75%)

Austria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree/ Diplomstudium / Magister degree A (or 1.5) mit Auszeichnungbestanden 60% or B or 3.0 (or 2) 50% or C or 2.7 (or 3)

Azerbaijan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomu 4.5 4 3.5
Diplomu (Specialist Diploma) 90% 80% 70%

Bahamas

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bahrain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Bangladesh

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BUET or 'Good Private' University - 4 year degree BUET - 1st (70%) / 3.5 BUET - 2nd (60%) / 3.0 BUET - 2nd (55%) / 2.75
Other universities - Masters (1-2 years) following a 3 or 4 year degree 80% / 4.0 65% / 3.25 50% / 2.5

Barbados

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Barbados - Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Belarus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Specialist Diploma (5Yr) 9 7 5

Belgium

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree Magna Cum Laude Cum Laude 60%/12
Licenciaat 80% 70% 60%
Licencie 17 14 12

Belize

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Benin

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise 18 15 or Bien 12 or Assez Bien

Bermuda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bolivia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
A Licenciado, 4 years Private (public/private) 85/78 75/66 67/55

Bosnia and Herzegovina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma Visokog Obrazovanja / Diplomirani 10 9 8

Botswana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's degree A or 80% B or 70% C or 60%

Brazil

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brazil - 4 yr Bacharel or Licenciado/Licenciatura or Título Profissional 8.5 (A) 7.5 6.0

Brunei

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brunei First Upper Second (60%/B/3.1) Lower Second (50%/C/2.7)

Bulgaria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 yr Diploma za Zavarsheno Visshe Obrazovanie (Diploma of Completed Higher Education) 6 5 4

Cambodia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 years 90% or 9 or 4.0 80% or 8 or 3.5 70% or 7 or 3.0

Cameroon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree or Diplome d'Etudes Superiures de Commerce 1st or 15 2:1 or 14 2:2 or 12.5
Diplome d'Ingenieur or Diplôme d'Ingénieur de Conception or a Maitrise or a 4 year Licence 20 or GPA 3.7 20 or Bien (GPA 3.4) 20 or Assez Bien (GPA 3.1)

Canada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0/percentage scale 3.7/85% 3.3/75% 2.7/68%
Out of 9 8 6 5
Out of 12 10 8 6

Chile

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Grado de Licenciado / Título (Profesional) de [subject area] (4 years) 6 5.5 5

China

Students are required to have a bachelor degree (4 years) for entry to a postgraduate programme. The University uses the Shanghai Academic Ranking of World Universities to identify the required final mark, as outlined on the table below:

First class (70%) Mid 2:1 (65%) 2:1 (60%) Mid 2:2 (55%) 2:2 (50%)
Shanghai Rank Top 250 85% 81% 80% 78% 77%
Shanghai Rank 251-500 89% 84% 83% 81% 80%
Shanghai Rank 501+ 92% 87% 86% 85% 82%

Affiliated colleges

The University will consider students from Affiliated Colleges in the following way:

Applicants from colleges affiliated to universities in the top 250 Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 80%-84%.

Applicants from colleges affiliated to universities which are 251-500 in the Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 82%-87%.

Applicants from colleges affiliated to universities which are above 500 in the Shanghai rankings will considered as follows:

  • School of Business and Economics: not considered
  • All other programmes if they have achieved or are likely to achieve final marks of 82%-87%.

Universities given special consideration

Applicants from a small number of Chinese universities that specialise in business, management, finance or creative arts will be given special consideration by the University. The full list of these universities and the Shanghai band under which they will be considered can be found in the PDF below.

Download the list of Chinese universities given special consideration here

Students who do not meet the above requirements may occasionally be considered if they have a relevant degree, can show good grades in relevant subjects, and/or have substantial relevant work experience.

Colombia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de [subject area] 4.5 3.75 3.2

Costa Rica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado 9 8 or 80 7 or 75

Croatia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaureus / Prvostupnik 4.5 3.8 3.0

Cuba

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year Titulo de Licenciado / Licenciatura 5 4 3

Cyprus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Cyprus 8.5 7.0 6.5

Czech Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalár (after 2001) 6 yr integrated Magistr 1 1.5 2

Denmark

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Candidatus/Candidata Magisterii or Bachelor degree (7 point scale) 12 10 7

Dominican Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciado 3.8 Magna Cum Laude 3.5 Cum Laude 3.2
Título de [subject area] - 85% 82%

Ecuador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado 8.5 8 7
Título de [subject area] 85% 80% 70%

Egypt

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Egypt 3.5 3.2 2.8
Universities only BA 90%, BSc 85% BA 80%, BSc 75% BA 65%, BSc 65%

El Salvador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Licenciado 8.5 7.5 6.5
Título de Ingeniero 85% 75% 65%
Arquitecto - Muy Bueno Bueno

Estonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalaureusekraad or Magister or Magistrikraad 5 or A 4 or B 3 or C

Ethiopia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A/GPA 4.0 A/GPA 3.5 B/GPA 2.8

Finland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kandidaattii/Kandidat (out of 3) 3 2 1
Maisteri/Magister (out of 5) 4.5 3 2.5

France

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (3 years)/ Maitrise/ Diplôme d'Ingénieur 14 12 11

Georgia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year degree (% = new system) 5 (95%) 4.5 (85%) 4 (75%)

Germany

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
German Bachelor/ Diplom, Magister Artium / Zeugnis über den Zweiten Abschnitt der Ärztlichen Prüfung 1.5 2.5 3.0

Ghana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Ghana First Upper second/60% Lower second/50%

Greece

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
AEI 8.5 7.0 6
TEI 8.5 7 6.5

Grenada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of West Indies - classification 1st 2:1 2:2
Degree from University of West Indies - grade / percentage A B / 75% C / 55%
Degree from University of West Indies - GPA 3.6 3.0 2.0

Guatemala

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Liceniado / Titulo de (subject area) - 4years 90% (public university) / 95% (private university) 80% (public university) / 85% (private university) 60% (public university) / 70% (private university)

Guyana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's GPA 4 GPA 3.5 3.0

Honduras

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado / Grado Académico de Licenciatura (4 year degree) - GPA out of 5 GPA 5 or 90% GPA 4 or 80% GPA 3.5 or 70%

Hong Kong

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Hungary

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Alapfokozt or Egyetemi Oklevel / Bachelor 5 4 3

Iceland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaurreatus degree or Kandidatsprof/Candidatus Mag 8.5 7.5 6.5

India

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Institutions listed on the Indian Ranking of Higher Educational Institutions Framework 65% (First) 60% (First) 55% (Upper second)
All other Indian institutions 70% (First with distinction) 65% (First) 60% (First)

Indonesia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sarjana I (S1) from A (or B) credited Universities 3.7 (4.0) 3.3 (3.7) 3 (3.3)

Iran

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iran 17 15 13

Iraq

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iraq 80% 75% 70%

Ireland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Republic of Ireland First (70%) Upper second (60%) Lower second (50%)

Israel

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3 yr Bachelor Degree 90% 80% 70%

Italy

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma di Laurea 109/110 104/110 (or 27) 100/110 (or 26)

Ivory Coast

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures 16 14 (Bien) 12 (Assez Bien)

Jamaica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by UCJ and CCCJ 1st (GPA 3.6) 2:1 (GPA 3.0) or B 2:2 (GPA 2.0) or C

Japan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Japan 85% 80% or B or 3.0 70% or C or 2.0

Jordan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3 or 3.5/5 or 75% 2.8 or 65%

Kazakhstan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 5.0/percentage scale 4.5 or 90% 4 or 85% 3.5 or 80%
GPA 4.33 scale 3.9 3.7 3.2
GPA 4.0 scale 3.7 3.4 3

Kenya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kenya First / 70% / A Upper second / 60% / B Lower second / 50% / C

Kosovo

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kosovo 10 9 8

Kuwait

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.6 3.0 2.8

Latvia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Latvia 9 7 6

Lebanon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
American 90% (3.5) 80% (3.2) 70% (2.8)
French 18 15 12

Liberia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's 4.0 or 90% 3.5 or 85% 3 or 80%

Libya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BSc Engineering, Architecture, Medicine 85 (3.6) 75 (3.0) 65 (2.5)
Other bachelor's degree from a university 90 (4.0) 85% (3.6) 75% (3.0)

Lithuania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lithuania 9 8 7

Macau

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macau 1st or GPA 3.7 2:1 or GPA 3.0 2:2 or GPA 2.5

Macedonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macedonia 10 9 8

Malawi

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's only MSc 75% MSc 70% MSc 65%

Malaysia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Class 2.1 2.2
GPA 4.0 scale 3.5 3.0 2.8

Malta

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Malta 1st (80%) 2:1 (70%) 2:2 (55%)

Mauritius

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mauritius 1st or 70% 2:1 or 60% 2:2 or 50%

Mexico

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mexico 9 8 7

Moldova

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenţă (Diploma of Licentiate) 10 9 8

Mongolia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Диплом Специалиста (Specialist Diploma) 90% or 3.5 80% or GPA 3.2 70% or GPA 3.0

Morocco

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Morocco 17 15 13

Mozambique

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciatura 16 14 12

Myanmar (Burma)

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
2 year Master's degree 5 or 85% 5 or 75% 4.5 or 65%

Namibia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Namibia 80% or A 70% or B 60% or C

Nepal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's (after 3 year bachelor degree) 90% or 3.9 GPA 80% or 3.8 GPA 65% or 3.3 GPA

Netherlands

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Netherlands 8 7 6

New Zealand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Honours degree (480 credits) - Level 8 First (7.0) Upper Second (6.0) Lower Second (4.0)

Nicaragua

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciatura (4 year) 90% 80% 70%

Nigeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
7 point Scale 6 5 4
5 point scale 4.5 3.8 3.5
4 point scale 3.5 3 2.5

Norway

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Norway A B C

Oman

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Pakistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Public Universities 4 Year degree only First with distinction (75%) / 4.0 First (65%) / 3.2 Second (59%) / 2.6
Private Universities 4 Year degree only First with Distinction (85%) First (75%) First (65%)
2 or 3 year bachelor's plus Master's First (60%) Second (55%) Second (50%)

Palestine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree A / 90% / 3.7 B+ / 85% / 3.3 B / 80% / 3.0

Panama

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Licenciado / Título de [subject area] 91 (A) 81 (B) 71 (C)

Papua New Guinea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Papua New Guinea 1st 2:1 2:2

Paraguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Paraguay - 4 3.5

Peru

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Título de Licenciado / Título de [subject area] 14 13 12

Philippines

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from prestigious state universities or Centres of Excellence (COE) Summa Cum Laude 4.0 / 96% / 1.0 Magna cum Laude 3.5 / 92% / 1.5 Cum Laude 3.0 / 87%/ 2.0

Poland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree (post 2003) Magister (pre- 2003) 5 4.5 / 4+ 4

Portugal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Portugal 18 16 14

Qatar

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Romania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenta/ Diploma de Inginer 9 8 7

Russia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Russia 4.5 4.0 3.5

Rwanda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year bachelor (Hons) degree (480 credits) 1st, 16/20 (80%) 2:1,14/20 (70%) 2:2, 12/20 (60%)

Saudi Arabia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8
GPA 5.0 scale 4.5 3.75 3.5

Senegal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees 16/20 or Tres Bien 14/20 or Bien 12/20 or Assez Bien

Serbia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomirani/ Bachelor's degree 9 8 7

Sierra Leone

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification - 2:1 2:2
Percentage grading - 60-69% 50-59%
Letter grading - B+ B

Singapore

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Upper second Lower second
GPA 4.0 scale 3.7 3.0 2.7
GPA 5.0 scale 4.5 3.5 3.0

Slovakia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovakia 1.5 or B 2.0 or C 2.5 or C/high D

Slovenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovenia 9.5 8.5 7

South Africa

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification 1st 2:1 2:2
Percentage scale 75-100% 70-74% 60-69%

South Korea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA out of 4.5 4.0 / A 3.5 / B 3.0 / C+
GPA out of 4.3 4.0 / A 3.0 / B 2.7 / C+

Spain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de Ingeniero / Título de Arquitecto 8.5 7 6.5
UCM grading 3.0 2.0 1.5

Sri Lanka

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sri Lanka 70% 60% 55%

Sudan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sudan (North and South) 1st or 70% or B+ 2:1 or 66% Mid 2:2 or 60% or B

Sweden

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sweden - Overall grade of VG with a minimum of 90 credits at VG Overall grade of G with a minimum of 90 credits at G

Switzerland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Switzerland 6 5 4

Syria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
State universities 4 years of study 80% 70% 60%
Private universities 4 years of study 90% 80% 70%

Taiwan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Category 1 (4 year degree) 80% 75% 70%
Category 2 (4 year degree) 85% 80% 75%

Tajikistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tajikistan - 4.5 4

Tanzania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tanzania 1st 2:1 2:2

Thailand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Trinidad and Tobago

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by ACTT 1st or B+ or 70% 2:1 or B or 65% 2:2 or B- or 60%

Tunisia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence, Maîtrise, Diplôme National d'Ingénieu 15 (tres bien) 14 (bien) 11 (assez bien)

Turkey

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lisans Diplomasi or a Műhendis Diplomasi 3.5 3 2.5

Turkmenistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Turkmenistan - 4.5 4

Uganda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Uganda 1st or 4.4 2:1 or 3.8 2:2 or 3.0

Ukraine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Dyplom Magistra or a Bachelors degree (11 / 5) 11 or 5 9 or 4.5 8 or 4

United Arab Emirates

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.6

United States of America

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Uruguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado (4 year) 10 9 8

Uzbekistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomi / Diplomi (Specialist Diploma) 90% or GPA 4.5 80% or GPA 4.0 70% or GPA 3.0

Venezuela

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado/Professional title. (4 year) 18/20 or 8/9 16/20 or 7/9 14/20 or 6/9

Vietnam

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Vietnam 8.0 7.0 6.0

Zambia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A or 4.0 or 80% B+, 3.5 or 70% B or 3.0 or 60%

Zimbabwe

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3/4 year degree 1st or 75% 2:1 or 65% 2:2 or 60%

English language requirements

Applicants must meet the minimum English Language requirements. Further details are available on the International website.

Fees and funding

UK / EU fee

Full-time degree per annum
£13,800

International fee

Full-time degree per annum
£23,200

Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment.

Find out more about master's degree funding